ATM keypad

photo via Flickr

In response to the large demand by investors for tangible assets in China, Beijing’s Hua Xia Bank recently installed ATMs that allow you to withdraw funds in the form of cash or gold or silver coins and bars. One-ounce silver coins are priced at $40, but a gold Panda coin set will set you back $3,800.

Demand for Gold in China

China has been importing gold in increasing amounts, and the country is currently on pace to pass even India. For six consecutive months China imported as much as 100 tons of the gold metal from Hong Kong, and that number rose to 110 tons in September and again to 131 tons in October.

In addition, sales of China’s series of silver and gold Panda Coins have grown exponentially as well—2012 saw over 13 times more silver Panda Coins sold than did 2010 (8 million and 600,000, sold each year, respectively).

Sell Gold for Cash

If you would rather sell your unwanted gold items for cash than use a gold-coin-dispensing ATM, then Cash for Gold USA is here to help. We accept everything from gold coins to gold jewelry, and we offer prices based on the current market price of gold. The process is simple and secure, and you just might be surprised by how much money your unwanted gold is really worth. Fill out our form to get your free shipping label today!